Depression Scares Are Hardly New
"WHAT is the chance that the current downturn will morph into another
Great Depression? That question has been preoccupying people for
months.
The popular mood has a huge impact on the economy, so it’s worth
noting what many people seem to forget: Depression scares come and go.
And by one authoritative measure, the current outbreak of concern has
been surprisingly mild."
From a New York Times article that notes that since 1951, there have been four Depression scares: 1974 to 1975, 1978 to 1982, 1990 to 1992 and the latest 2008 to 2009. Most notably the current scare is not nearly as bad as the ones preceding it.
Great Depression? That question has been preoccupying people for
months.
The popular mood has a huge impact on the economy, so it’s worth
noting what many people seem to forget: Depression scares come and go.
And by one authoritative measure, the current outbreak of concern has
been surprisingly mild."
From a New York Times article that notes that since 1951, there have been four Depression scares: 1974 to 1975, 1978 to 1982, 1990 to 1992 and the latest 2008 to 2009. Most notably the current scare is not nearly as bad as the ones preceding it.
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